Autorola signs pan-European remarketing deal with BMW
Autorola has signed a four-year remarketing contract with the BMW Group. The aim is to support BMW and MINI dealers in sourcing used cars across Europe.
As per the agreement, Autorola has built a dedicated, closed B2B remarketing platform across Europe for BMW and MINI dealer groups. It’s a fully integrated solution, which provides both online auction services, and individual components such as valuations and logistics.
The contract involves:
- Three Autorola products: MarketPlace, the online remarketing platform; INDICATA and its real-time used-car pricing data; and Fleet Monitor, the asset management platform.
- Three BMW organisations: the Group’s national sales companies, leasing company Alphabet, and financial arm BMW Group Financial Services.
Each of these organisations can upload ex-lease, rental and company cars onto a closed version of Autorola’s MarketPlace, which is accessible only to franchised BMW and MINI dealers. Dealers can bid on and buy stock, Autorola will manage the paperwork and delivery logistics, whether in-country or cross-border.
In June, the first phase of the contract went live, and has since enabled 10 of BMW Group’s European markets (Germany, France, Spain, Italy, the Netherlands, Belgium and the four Nordics) to start selling used cars online on an integrated, pan-European platform. Eventually, a total of 15 countries will be able to buy used cars via this online platform.
The deal between Autorola and BMW Group is especially timely, considering current vehicle shortages across all markets. The collaboration opens up the Group’s used-car stock to its dealers across Europe, which will optimise the balance between supply and demand.
“The first few online auctions have already gone well, showing the dynamic of one European market,” says Morten Holmsten, global MarketPlace business unit director for Autorola Group. “We look forward to growing the number of buyers bidding and increasing the volume of used cars in each online auction over the coming months.”